Recent Question/Assignment

Project Goal – “The purpose statement succinctly sets out the goal and justification for the project” (Verzuh, 2012, p. 66).
“State the specific desired results from the project…” (p.419).
Problem/Opportunity Definition
“Describe the problem/opportunity…with factual evidence…the context of where it appears in the organization…and the size of the problem” (p.419-420).
Proposed Solution
“Describe what the project will do to address the problem/opportunity…be specific...”(p.420).
Project Selection & Ranking Criteria “Projects fall into one of the following criteria…” (p. 420). Are we proposing this project because we need to either comply with regulation, it will save money or will it increase revenue?
Project benefit category:
? Compliance/Regulatory ? Efficiency/Cost reduction ? Revenue increase Check one box
Portfolio fit and interdependencies
Typically, an organization will have a vision and mission statement. The organization will also have over-arching goals and strategies for the company. How well does this project “fit” into the overall strategy of the organization? If it is not a good fit then the project proposal may not be approved.
Project urgency
How quickly does this project need to be implemented?
Cost/Benefit Analysis – “The financial reasons for taking on the project” (p.420).
Tangible Benefits ( Measurable )
Benefit ( Describe and quantify )
Value & Probability ( Translate the value into financial terms )
Assumptions Driving Value ( What assumptions did you use in calculating the benefit?)
Intangible Benefits ( Difficult to measure )
Benefit ( Describe )
Value & Probability ( Translate the value into financial terms )
Assumptions Driving Value ( What assumptions did you use in calculating the benefit?)
Cost Categories ( Calculate ) Amount
Internal Labor hours
External costs
Labor (consultants, contract labor)
Equipment, hardware or software
List other costs such as travel & training
Financial Return ( Calculate or describe )
Business Requirements ( Indicate any specific organizational requirements within this project )
1.
2.
Scope “List and describe the major accomplishments required to meet the project goal” (p. 421). “All the work required to meet project objectives” (p.67).
Major project activities
1.
2.
3.
Out of scope activities that are critical to the success of the project
Major Obstacles (Consider obstacles and risks ahead of time. Risks may occur in a project but obstacles are certain to occur.)
1.
2.
Risks
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2.
Schedule Overview (This is a 30,000 foot view of deadlines; you will go into great detail of timelines when we focus on the knowledge area of time.)
Estimated Project Completion Date: [mm/dd/yy]
Major Milestones
[Milestone] mm/dd/yy
[Milestone] mm/dd/yy
External Milestones Affecting the Project
[Milestone] mm/dd/yy
[Milestone] mm/dd/yy
Impact of Late Delivery

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